Arsenal not looking for new investor

Arsenal have ruled out looking for an new investor who could provide the cash injection needed to keep up with Manchester United and Chelsea.

The Gunners are traditionally the smallest spenders of the Premier League's big-four and their failure to win a trophy for the third successive season has left fans fearing they cannot compete with a major spending spree.

The north London club have been the subject of potential takeover bids from American tycoon Stan Kroenke and Uzbek businessman Alisher Usmanov in the last year.

But director Danny Fiszman insists the potential long-term damage caused by relying on a Roman Abramovich-style investor, who could leave on a whim, is too great to consider.

“We don't believe in the benefactor model.” Fiszman said. “It is not a question of a one-time infusion of cash to buy player x or player y. You actually then have salaries that are connected to the players.

“What if they don't work out? Do you go and buy another two or three players? Is there any end to it?

“So I think everybody, including Chelsea, knows there are limits. Chelsea were not big spenders last summer certainly – they got our old player Steven Sidwell on a free transfer.

“We believe in the end the self-sustaining model is the right one, the one we have adopted and will continue adopting.”